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Manitoba Student Loans 2019 Eligibility and Application Process

Filed in Loan, Student Loan by on March 15, 2019

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Manitoba Student Loans 2019 Eligibility and Application Process.

Manitoba Student Loans – The provincial government has streamlined the application process for Manitoba Student Aid and Manitoba Bursary to help more low-income and Indigenous students access funding, Education.

Manitoba Student Loans

The province plans to distribute up to $8.6 million in additional loans for the 2018-19 program year.  Based on changes by the federal government to the Canada Student Loan program, the province is implementing the following changes:

  1. A fixed student contribution rate for student loans and grants,
  2. A three-year Skills Boost pilot program to top-up adult learners with $200 per month, and
  3. An exclusion of First Nations band funding as part of the student financial assessment so more Indigenous students are eligible for grants.

Manitoba is the first province in Western Canada to eliminate provincial interest on all Manitoba student loans and will enhance loan accessibility for students.

Applying early is always better. We’ll explain how early you should apply and why. Usually, applications for fall and winter studies are available in June. Students should apply early to make sure they don’t miss any deadlines.

Online applications take two weeks to process, paper applications are available in July and take five weeks to process unless the school or program require a designation.

You can apply even if your school has not officially accepted you – just make sure you know the name of your school, the program you are going into and the start and end dates.

You can apply early using the online application.

Categories of Loan Application

Full-Time Students

If you are going to a university or college, you are a full-time student if you are taking at least 60% of a full course load each term. If you are going to a private vocational school, you are a full-time student if you are taking a full or 100% course load.

If you have a permanent disability that has been verified through Manitoba Student Aid and is going to university or college, you are a full-time student if you are taking at least 40% of a full course load each term.

Part-Time Students

If you are going to a university or college, you are a part-time student if you are taking 20 to 59% of a full course load each term.

If you have a permanent disability that has been verified through Manitoba Student Aid and is going to a university or college, you are a part-time student if you are taking 20 to 39% of a full course load each term.

WHERE DO I START?

Determine if you can apply online or if you need to use a paper application form. You should apply early to make sure your funding is in place before school starts. Please print the list of required information. It provides all the information you need to complete your application.

Online Application

If you are a full-time student, you can apply using the online application even if you haven’t been officially accepted yet, as long as you know your:

  • school and program
  • start and end dates

It takes two weeks to process online applications. Once your application is processed, you will find out:

  • how much you are eligible to receive and
  • what forms you need to fill out, or
  • if and why you are not eligible to receive funds.

WHAT INFORMATION DO I NEED?

This section explains what you’ll need at your fingertips to apply, what information you’ll need to provide before you receive your funds and the confidentiality of your information. Depending on what stage you’re at in the application process, you will need to provide different information to our office.

What Information Do I Need When I Apply?

When you apply, you need to provide your:

  • Social Insurance Number
  • birth date
  • income tax return information from the last income tax year
  • Canadian bank account number

If applicable, you will also need your:

  • parents’ income tax return information from the last income tax year
  • parents’ Social Insurance Number(s)
  • spouse or partner’s income tax return information from the last income tax year
  • spouse or partner’s Social Insurance Number

What documents do I need to submit to receive my funds?

Check your online account to see what documents you need to submit to receive your funds.

If you don’t submit all of your documents, you will not receive any funds. We only accept documents until 45 days before your program ends, and you will not receive any funds if your program has ended.

HOW DO I MAKE PAYMENTS?

Find out when your loan repayments start and how to make them.

Payments are due on both your Canada Student Loan and Manitoba Student Loan six months after you stop going to school full-time.

If you are a part-time student, payments are due on your Canada Student Loan six months after you stop going to school. These loans accumulate interest while you are in school.

When is my first payment due?

Your lenders, Manitoba Student Aid and the National Student Loans Service Centre, will send you information with specific dates of when your payments will start and how much they will be.

How do I make payments?

Unless you contact us to make different arrangements, Manitoba Student Aid will automatically set up a pre-authorized debit agreement to take monthly payments from your Canadian bank account.

You can make additional payments to Manitoba Student Aid through online or telephone payments, or you can put a cheque in the mail. You may also choose to pay in person at our offices using a cheque or an Interac card.

WHAT IF I’M HAVING TROUBLE REPAYING MY LOANS?

If you’re having trouble repaying your loan, you can apply for repayment assistance. There are a few different ways we can help you. Have a look.

How does Manitoba Student Aid’s Repayment Assistance Plan work?

If you’re eligible for assistance, your monthly loan payments are calculated based on your family income and size. It’s also possible that you may not have to make any loan payments until your income goes up.

The Repayment Assistance Plan allows you to repay your student loan within a maximum of 15 years (or 10 years if you have a permanent disability).

If you have a permanent disability, please see our Repayment Assistance for Borrowers with a Permanent Disability section.

There are two stages to the Repayment Assistance Plan

Stage 1: You’ve been on the plan for less than five years.

  • You can be in Stage 1 for a total of 5 years during a 10 year period (starting from the last time you were a full-time student).
  • Your monthly payments will not go over 20% of your monthly income.
  • You’re still eligible to apply for Manitoba Student Aid if you go back to school.

Stage 2: You’ve been on the Repayment Assistance Plan for more than five years, you’ve been in repayment for 10 years or you are applying as a borrower with a permanent disability.

  • The Manitoba government will pay a portion of your loan amount.
  • Your monthly payments will not go over 20% of your monthly income.
  • You’re ineligible to apply for Manitoba Student Aid if you go back to school unless you have a permanent disability.

CSN Team.

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